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There will not be any buybacks this year due to the ban on returning capital to shareholders.
Many shareholders will I am sure be more than happy if buybacks at some stage were to return but at a much higher level than the current 25p.
''on this occasion to pump this money straight back into the company's shares at around 25p''
Yes it is always good if a buyback can be made at good value. The last buyback which was suspended was at an average of just under 58p represented good value at the time (pre Covid 19).
The outlook is uncertain at the moment so we don't know if 25p would be a good value purchase as the 58p purchase was at the time.
I would be more that happy for the BOD to use spare capital to purchase at 25p . They of course would only do so if they confident about it being a good value purchase for shareholders.
Of course not sure if we're allowed to do this ATM - I mean we ourselves cancelled a buy-back last September and as far as I know the PRA only recommended the cancellation of dividends although I guess in the spirit of such buy-backs should liekly be included (although I'm sure there's ways around it if we really wanted to as RE was suggesting last night indeed - which we bloody well should do) and as for holders, especially LTH's - short term pain for long term gain! Bloody hell they were putting up to £2bn into share buy-backs a year not very long ago at prices of up to70p+ if memory serves - imagine following the same policy now indeed?!
Rosewall - have to disagree there - for example if the withheld £2.2bn (2.25p final dividend from 2019 equalling £1.6bn and the £0.6bn as so far apparently un-used from previous PPI provisioning, etc) and not taking into account any possible potential profit for the year 2020 so completely discarding it in fact - that could currently still buy nearly 13% of the company outright, not to mention that in doing so it would likely help push the price even higher than said 13% for sure as we're talking some 9bn shares being bought and it should be done as quickly as possible - that would then see shorter's have to close immediately as well and furthermore give good solid confidence to the market in general on top! WIN WIN for me on this occasion to pump this money straight back into the company's shares at around 25p!
History shows that share buybacks in this company does nothing for the so or dividend. Feel free to repeat history with your money, leave mine out of it.
But I like the sound of a drill going into the earth in Dec over on bpc,such excitment I've not had for a while ,could well cover the divi I've list here on lloyds my friends tell me enjoy your day.
yes, war criminal. as i haver stated i do not nail my colours to the mast, but that does not mean i do not know a gone wrong when i come across one.
the in fighting amongst ourselves needs to stop and i'm not for one minute inferring the bum fighting league on here....
T B.liar, another ambitious Dandy.
"we all need to focus on.... 'Them versus Us'."
Yes absolutely, the UK had one of the biggest protest marches in history, no not BLM, No not Jeremy Corbyn's brother arrested at anti-lockdown protest in London, It happened to be about the invasion of another country in the naughties
....soon forgotten yet we live with terrorism many , many years later, as do other countries...Paris anyone..!
RE: Rishi Sunak slaps dividend ban big companies.
The headline should read >>> New Jobs Life Line BANS ALL OFFSHORE TAX AVOIDANCE FIRMS participating in the latest coronavirus bailout.
Offshore tax avoidance companies are required to pay back ALL furloughed monies received from the British Tax Payer. (I wish)
It's a joke ......Offshore tax avoidance companies, in many cases, pay employee's minimum wage and Government assist with tax credits to make up the short fall in basic salary.
Before the ......... "I hate Boris" choir starts ! ITS ALL GOVERNMENTS past/present that are rotten to the core and we all need to focus on.... 'Them versus Us'.
As usual we are being played.
Rant over and back to tearing each other apart.
Likewise DT, likewise - very informative as always - all 1 can really ask for on here mate - keep it up indeed ............!
Pleasure reading your posts..
if Lloy didn't cut a deal then the CEO should be pushed rather than be allowed to leave,
Top post RE - great read indeed - think I said similar on Thursday already - Lloyds to use any left over funds if at all possible to come in over the top and buy-back on mass at these prices, etc - prefer this over even getting paid a dividend - leave that for further down the road once the SP is much higher and climbing ..........!
Keep well and take care mate - GL+ATB to you too just like I said to DT, etc and as normally do to all on here!
HI DT - hope they got it, are getting it and will get it bloody right once and for all LOL - especially now I'm heavily invested on top .........!
Keep well mate and take care - enjoy your Sunday and the match on Monday night - we'll of course discuss more on here as each day passes and with whatever gets thrown up no doubt - ATB+GL my friend!
I don't believe the BoE ever imagined bank share prices would fall below equity (book) value, or by such a large margin. This pain is truly on their hands, banning buy backs at these prices is a massive missed opportunity too.
So pressure will be on the BoE regulator to repair the damage they've inflicted on private business. I expect the regulator to release the chain around banks necks pretty soon. Before year end now.
I also hope that lloyds has taken some derivative position to allow them to lock in a buyback price at say 25p. Once the regulator sets us free. Would be madness not too, if they can.
Holding my decent stack, for the goodtimes.
Britain's biggest banks are to be given until 2019 – longer than had been expected – to implement radical reform of their operations to prevent another taxpayer bailout of the system."
Sir John Vickers quoted stating in May /20;
"The global effort to reform the banks after the crisis of 2008 did a number of good things but I generally think of it as a job half done,"....
sounds about right to me..
Hmm - I could be wrong but perhaps BLT protecting insurance firms should be more worried than banks as regards these low paid workers in hospitality, retail, etc losing their jobs, etc meaning they're less likely to pay their rents, etc (because I'm pretty sure most will be renting if not living at home with family, etc and very few will own their own property even if mortgage backed, etc) - that and the Govt naturally who will subsequently have to subsidise them with more benefits, etc - indeed these low paid workers, etc - how likely are banks to be that exposed to them when knowing their exact circumstances, etc?! Due diligence by banks since 2008, etc will not be just as regards property and mortgages, but also all types of loans and the more risky such as un-secured loaning and credit cards - the more likely they'll be sceptical and dubious and much more protective surely?!
Indeed I think I read that 85% of Lloyds loan book is against secured lending for example, etc and it's got a very good margin on it's mortgage book and with property still rising ATM anyway at least - can't see it taking much of a hit here at all indeed if anyway for the time being anyway!
Just a layman's opinion of course - certainly no expert LOL!
Will have to keep watching and hoping for a reversal ............!
Patrao1, valid points, but just don't see LLoy running off with all the profits in /21 i think it's in for a hard time as UK largest domestic bank then that in turn surely means any downturn will have a massive impact on the bank. It's all unknowns, uncertainty which again plays into the hands of hedge funds such as Marshall wace...
Even with a UK/EU deal things are not exactly looking great, property is over price and in dire need of a correction, UK unemployment had yet to hit the system as these latest schemes come with caveats whereas the the furlough scheme was open to Royal family..!
Lots of means testing will be off putting to many companies...
Reds V Arsenal...i like the gunners probably be a good game....
Fair play DT but if Brexit gets sorted with a good deal for the UK especially (which is still a decent possibility), a decent vaccine is found relatively quickly (by early 2021 is reasonably plausible), dividends soon after re-started in mid 2021, etc and with rates going to be kept low for several more years minimum hopefully also meaning that house prices keep rising or worst case stabilise at least (given the shortages especially in the SE and on top with savers having nowhere to park their money apart from the very wealthy who can keep pumping into the property market which will still keep helping Lloyds LOL) - then these start looking extremely attractive and should rocket quite frankly very quickly to 50p+ (which will mean me nearly doubling my large investment here LOL) and even then after that keep going most likely at a decent pace still!
Come on you black beauty LOL!
Enjoy your Sunday mate - hope your Reds do the Arse-anal SCUM on Monday night - should be watching even though it's my Dad's b-day and a big meal, etc planned!
The UK Economy could be looking at deflation - if that were to happen it makes sense for the risk averse to consume capital.
Patrao1, Then you know it will not end well for Robin Hood traders, Mom'n'Pop, lockdown traders ( using Trumps helicopter drops to trade).....
I like to think the UK savers are a bit more savvy and risk adverse i think hey will go cash, cash is king, as these people will see the warning signs, after all them cuts had been severe...so the saver will read the road ahead, too risky.
Hi DT - impossible looking for a reward with minimal risk now - base rate = 0.1%, people are going to have to get creative - looking for bargains on the stock market like possibly Lloyds at the moment starts making much more sense especially longish term ........! Indeed the surge in USA is partly down to people doing exactly this since March with lots of newbies entering the markets, etc based on spare time and spare money, etc not to mention looking for a new source of income and/or even capital appreciation!
Also over-payments or even paying off mortgages, loans, credit cards a lot quicker, etc by those who can of course afford to do so which will actually be good for banks, etc especially short term - build up more capital - although normally of course banks love people who stick to payments and see out the term - interest accruing year after year but ATM it might actually be better to see that reversed and like I say people over-paying and even paying off in some/many cases - especially when savings rates are non-existent (older generations perhaps helping younger generations and not only for buying property - bank of mum and dad indeed), stock market only for the risk tolerant ATM ideally and then people saving money by not being able to go out or even not wanting to go out as usual due to this pandemic, etc - so saving money and then having to do something with it and actually being prudent by paying down/off debt - so not all bad for the banks, etc LOL!
postme, cheers but I've seen "The Social Dilemma " on Netflix....would not go near Faceache...google, etc
Patrao1, NS&I wall of money, savers will be looking for a reward with minimal risk, as these are savers......